1. Implementing Receivables Credit to Cash
  2. Enable Collections Strategy for Individual Transactions

Enable Collections Strategy for Individual Transactions

Generally, you can assign collections strategies at a client level. However, you might have business requirements to assign these strategies for individual transactions.

To assign collections strategies for individual transactions, you must enable the Collections Strategies for Individual Transactions feature.

Note: Before you enable this feature, you must enable these prerequisite features:
  • Collections Scoring and Strategy Assignments by Segment
  • Automatically Initiate or Fulfill Collections Tasks in Third Party Systems

To enable this feature:

  1. Click Navigator > My Enterprise > Offerings.

  2. On the Offerings page, select Financials.

  3. Click Opt In Features.

  4. On the Opt In: Financials page, click the Features icon for Collections. A list of Collections features is displayed.

  5. Select the Enable checkbox for the Collections Strategies for Individual Transactions feature and save the changes.

Once the Collections Strategies for Individual Transactions feature is enabled, you can manage these strategies using the Collections Strategies REST API. Update strategy status and task status based on triggers from third-party applications. This also helps migrate in-progress strategy assignments and their tasks from another application to Advanced Collections.

You can use the enhanced Collections Strategies REST API to:
  • Perform operations such as Cancel, Complete, and Skip using the PATCH operation of the strategyExecutionTasks and strategyUserTasks REST APIs.
  • Add new user tasks using the POST operation of the strategyUserTasks REST API.
  • Add new strategy tasks using the POST operation of the collectionStrategies REST API.
  • Skip a task that is in the To Be Created status using the PATCH operation of the strategyTemplateTasks REST API.
By leveraging REST operations such as PATCH and POST, organizations can dynamically manage user and strategy tasks without manual intervention.

To manage collections strategies for individual transactions using the Collections Strategies REST API, review the REST service definition in the REST API guides (available from the Oracle Help Center > Cloud Applications > Financials > APIs & Schema).